**Lesson Plan: Commerce for Senior Secondary 2 - Insurance II**
**Class Duration:** 60 Minutes
**Topic:** Insurance II
**Objective:**
By the end of the lesson, students should be able to:
1. Understand the different types of insurance.
2. Explain the principles of insurance.
3. Identify the significance of insurance in commerce.
4. Analyze real-life case studies involving insurance.
**Materials Needed:**
- Whiteboard and markers
- Projector and computer
- Handouts with case studies
- Textbook/Reference material on Insurance
- Examples of insurance policies (if available)
**Lesson Structure:**
1. **Introduction (5 minutes)**
- Greet the students and briefly recap the previous lesson on Insurance I.
- Introduce today’s topic: Insurance II and outline the objectives of the lesson.
2. **Direct Instruction (15 minutes)**
- **Types of Insurance:**
- Health Insurance
- Life Insurance
- Auto Insurance
- Homeowners/Renters Insurance
- Liability Insurance
- Business Insurance
- **Principles of Insurance:**
- Utmost Good Faith
- Insurable Interest
- Indemnity
- Subrogation
- Contribution
- Proximate Cause
- **Role of Insurance in Commerce:**
- Risk Management
- Financial Stability
- Encouragement of Savings
- Promotion of Commercial Enterprises
3. **Interactive Discussion (10 minutes)**
- Invite students to share any experiences or knowledge they have about different types of insurance.
- Discuss how insurance can affect both personal and business decisions.
4. **Case Study Analysis (20 minutes)**
- Distribute handouts with real-life case studies involving insurance claims and issues.
- Divide the class into small groups and assign each group a case study.
- Ask each group to read their case study and answer the questions provided:
- What type of insurance is involved?
- Which principle(s) of insurance can be identified in this case?
- How was the situation resolved?
- Each group will present their findings to the class.
5. **Activity: Create Your Own Insurance Policy (5 minutes)**
- Ask students to pair up and create a basic outline of an insurance policy for a hypothetical scenario of their choice (e.g., a new tech startup, a sports team, etc.).
- They should identify what needs to be insured, the type of insurance, and at least one principle of insurance that applies.
6. **Conclusion and Q&A (5 minutes)**
- Summarize the key points covered in the lesson.
- Answer any remaining questions the students may have.
- Provide a brief overview of the next topic to be covered in the upcoming class.
- Assign homework: Students should research and write a short essay (1-2 pages) on how technology is impacting the insurance industry.
**Assessment:**
- Participation in class discussions and activities.
- Contribution to the group’s case study analysis.
- Creativity and understanding evidenced in the creation of their own insurance policy.
**Homework:**
- Brief essay on "How Technology is Impacting the Insurance Industry". This will be due in the next class.
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*Teacher's Note: Engage students by incorporating examples from recent news articles, especially those that involve young adults or new tech companies. This makes the content more relatable and exciting to them.*